Acentic sells controlling stake to PhilWeb Corporation and ISM Communications Corp

Philippines │ United Kingdom

Acentic, one of Europe’s largest providers of digital television and internet access to 4 and 5 star hotel groups, has sold a controlling stake to a new joint venture company established by Philippines-based Philweb Corporation (WEB) and ISM Communications Corporation (ISM). The 65% stake owned by GI Partners (a leading private equity firm focused on asset backed investments in North America and Western Europe) was acquired for a cash consideration of US$28.5 million. The remaining 35% of Acentic will continue to be owned by Niantic Holdings GmbH, a German company controlled by Dr. Andreas Jacobs of the renowned chocolate family.

Acentic is an international provider of digital and internet protocol (IP) converged services to hotels. Their digital television services and high speed internet access are in many of the world’s leading hotel chains including Accor, Dorint, Intercontinental Hotel Group, Hilton, Hyatt, Maritim, Marriott, Mövenpick and Starwood. Operating in more than 30 countries across Europe, the Middle East and Africa, Acentic is the second largest in-room entertainment service provider in Europe.

WEB and ISM see Acentic as a perfect fit for the information technology and telecommunications business of ISM and the gaming expertise of WEB. The acquisition will enable Acentic to grow its predominantly European market to include the Asia–Pacific region, the fastest growing hotel market in the world.
 
M&A International Inc.’s UK member, Cavendish Corporate Finance LLP, advised Acentic in this transaction, working closely with the alliance’s Norwegian team, Bridgehead AS, on identifying relevant trade buyers particularly in the hotel PayTV market.